Coinbase Acquires Crypto Trading Tool Routefire
- Coinbase has acquired crypto startup Routefire for an undisclosed sum
- Routefire provides institutional customers with infrastructure for executing large market orders
- Ahead of its IPO, Coinbase has been making big moves aimed at institutions
Coinbase has bought Routefire for an undisclosed sum. The cryptocurrency behemoth will make use of Routefire’s trade-enhancing infrastructure.
Coinbase Acquires Trading Tool
Coinbase has acquired Routefire. A blog post on Routefire’s website confirmed the news yesterday. In it, the company’s CEO Jason Victor wrote:
“It is with pride and a deep sense of gratitude that today we are announcing we will be discontinuing Routefire’s services and our team will be joining Coinbase to continue developing best-in-class execution services for digital assets”
The deal’s sum was not made public.
Routefire emerged as a promising startup in the cryptocurrency space with the development of a crypto trading tool. It helps traders execute large orders at high speed while reducing the market impact that bigger block orders can often cause. It’s primarily aimed at institutional customers.
The acquisition will unlikely be a surprise to anyone who’s been following the exchange’s move closely in recent months. Coinbase has made several notable announcements regarding its institutional custodian arm Coinbase Custody, regularly adding newer DeFi coins, among other tokens.
Last year, it was revealed that the exchange had helped MicroStrategy make its mammoth Bitcoin buy.
The company also has another product, Coinbase Prime, which it describes as “the crypto solution for institutions.”
Soon, the company is expected to launch its highly-anticipated IPO, a first for the cryptocurrency industry.
Routefire’s team will continue focusing on providing trading infrastructure as part of Coinbase. Victor concluded his note by thanking the company’s early supporters.
“We hope to continue working together with you at Coinbase…and look forward to serving you for many years to come,” he wrote.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
Source: Read Full Article